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Dealers of Nezha Automobile have collectively made three demands in response to the manufacturer's unfulfilled promises and delays in rebate subsidies. These demands include compensation for operational losses, repayment of outstanding payments, and the restoration of the after-sales service system. Nezha Automobile has yet to issue a response. Recently, the company has seen significant executive changes, with the departure of former CEO Zhang Yong and the appointment of Chairman Fang Yunzhou to also serve as CEO. Additionally, a reform plan aimed at achieving IPO and global expansion has been announced. To mitigate debt pressures, Nezha Automobile has resorted to debt-to-equity swaps with suppliers, but it still grapples with severe challenges, such as declining sales and factory shutdowns.
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